A Plea for Advice

[TruckerGuy]

Alright, since I'm new to the forums and I'm beyond positive that plenty of people have more experience than I do driving, I'm going to ask a bit of advice.

To start, I've had my Class 1 license since 2004 and have been driving trucks since then. I've been with a couple companies. I started with Big Freight Systems based out of Steinbach, MB. Drove for them until early 2006 when I left for Arnold Brothers Transport. I then left Arnold Brothers in January of this year because I purchased a local 5 ton truck. So I was an owner operator but that didn't work. Put it this way, I was screwed over in a business decision by someone who I thought was a friend. But I do have that experience in being an owner operator in some capacity.

I've run into a situation where I have found a reasonably priced 2005 Volvo that would still have warranty left on it. I know the logistics of being an owner op, saving the money and driving smart. I never lie in my logbook intentionally. I never exceed the speed limit and drive smart for the conditions and I am very careful with fuel usage.

But I'm asking for the advice because I have a company driver job open for me whenever I want it. Based on today's stats like fuel costs, a downswing in the economy and so on, would it be worth it for me to become an owner operator on the road? Or would it be the worst mistake I ever made with a company truck just waiting for me to get behind the wheel?

Guess this would be advice to everyone, but I'm asking all of you with the real experience of dealing with today's economy. What ya got for me?

[RodeoJoe]

Well, TG, that's a question that has as many answers as questions. I'm 67, got approx 5 million miles on my butt, owned my own trucks, driven for various companies (good and bad), retired three times, and am now driving a company truck because I enjoy it. Some guys cannot stand driving for a company and have to be out on their own, others don't want the stress and worry of being owner operators. It's up to you. Me? I've never been happier than when I was driving somebody elses truck.

[TruckerGuy]

Heh, I thank you for the advice, but perhaps I should have clarified what kinda advice I was looking for. Basically, with the economy and fuel prices and such, am I setting myself up for financial ruin if I decide to become an Owner Op? Is there even a reason to keep going with this industry when everyone seems to think it's going to collapse on itself? I guess what I'm asking is whether the Independent Operators in Trucking are eventually going to cease to exist as we know them.

Sorry to not be anymore in depth about it before. :hah:

[hellcat_99]

In today's world, you are better off driving for a company. The industry is very unsettled due to the rising cost's of everything.
Some O/O are trying to decide weather to put fuel in the tank's or get repair's done. They can't do both. Fuel will kill you alone. Then you have your regular maintenance on the trk. You have the break down's while OTR, which are costly.
Drive for someone for a while. See if the dust settles. Fuel cost's are only going up not down.
Be safe & drive for a company.

Holly

[ROADHUGGER]

Today its a crap shoot being a STARTUP O/O, the $ of FUEL is whats going to put a lot out of work , but also the other costs of owning a truck are starting to edge upward.

There are so many out there that have no idea what their per mile cost is and what the bare min $ they can run for with any hope of still being around in a few months or a few years.

The REPO guys are swamped with picking up used O/O as well as new O/O trucks and many are signed on with good paying carriers which points to poor $ management on the O/O's part. They do not realize that the $ the truck earns is not all theirs to buy the TOY's they seem to think they deserve.

[TruckerGuy]

Yeah, I kinda figured that's what was happening around.

One of the main pluses that I'd have being an Owner Op is the different deals the Company I'd go with presents to the Owners. They subsidize fuel costs so I'd only have to pay 1/3 of the fuel myself. All the fuel would be charged on their account, and then the portion I pay comes off my cheque. They pay for plates and insurance on the rig and they also give us their fleet pricing for all parts and repairs I would need to get done. They seem to take care of their O/O's very well, which is why I am still considering it.

But right now, I'm weighing my options and would still love to hear everyone elses view on all this.

[buzzy]

With the cost of operating on the increase a wise man would just go for a drive down to the local truck dealership and see how many recently new tractors have been turned back in.

There's so many drivers in default at the moment even the banks don't want the trucks back.

[Rambone]

Not sure if I can help much. I'm in the same boat as you. I made a good living a few years ago. I had a clean clean nothing fancy freightliner. Paid it off and ran it for a few more years. Sold it off and thought I would try getting back into construction with a tri-axle dump. Big mistake...No let me say huge mistake. Now... sold that, paid off everything. I have no money left and am driving for a good company. You would think I'm happy, but I find I'm broke after every pay day. I'm like you. I need more and I have no problem working for it, but I'm not sure if buying right now is the thing to do. Freight needs to move, but with fuel being what it is I feel a bit scared after my last venture.
I have a problem with my own thinking. I have this idea in my head that I can find a not so used good truck from a bank repo. Thats a good idea until I think of all the reason it was in the repo yard in the first place.

I will read all post here. It might help me make up my mind.... Or not.

have fun.

[snafu]

I can only speak for myself but I've had a couple of recent conversations where I've been offered extremely reasonable and satisfactory rates to handle their shipments over the coming months. There is in some segments of the industry a real demand for qualified owner operators/ independent contractors.

With fuel prices settling down to somewhat normal and the U.S. dollar rising while the Loonie falls, manufacturing will start to pick up after the U.S. election and inauguration is complete.

The time to buy is now while there's a glut of used trucks out there, if you can handle the payments and have the work.

And don't forget, if you're paying cash for your fuel and not operating on a company issued fuel card or cardlock, www.gasbuddy.com is your online friend for the cheapest prices for diesel as well.

[bikerboy]

Not sure if I can help much. I'm in the same boat as you. I made a good living a few years ago. I had a clean clean nothing fancy freightliner. Paid it off and ran it for a few more years. Sold it off and thought I would try getting back into construction with a tri-axle dump. Big mistake...No let me say huge mistake. Now... sold that, paid off everything. I have no money left and am driving for a good company. You would think I'm happy, but I find I'm broke after every pay day. I'm like you. I need more and I have no problem working for it, but I'm not sure if buying right now is the thing to do. Freight needs to move, but with fuel being what it is I feel a bit scared after my last venture.
I have a problem with my own thinking. I have this idea in my head that I can find a not so used good truck from a bank repo. Thats a good idea until I think of all the reason it was in the repo yard in the first place.

I will read all post here. It might help me make up my mind.... Or not.

have fun.

Where were you running the tri-axle dump truck, toronto?
I drove a company dump truck in kitchener for awhile, and that company was still finding lots of work, and the rates were better in kitchener then where the company is based from in the country.

[Rambone]

Hi Bikerboy, I worked east of Toronto. I sold my tractor and started working for a few local company's. I then purchased my own. Things were OK at first, but had some big boys come in and cut the rates. I'm not going to name names here, but at the first of this year with fuel prices 30% higher than last fall the rate I was offered 10% less on ton mile. Even less per hour. I moved around a bit, but thought I would get out with a guy wanting my truck.
The one thing I did learn. People you thought were friends turned against me when I bought my own truck. They thought of me as some threat. Even after sending them work they would not do the same.
I felt bad after I sold out. I sat and thought about what I wanted to do next. The last thing I wanted to do was go back on the big road, but I need to re-coop my losses for the last few years. Right now I'm on with a well known company, but it's not enough.

[Drifter]

Seems like you are understanding what the co is offering you. Have you read any other posts on start up costs? Tax filing,and workers comp are two biggies that come to mind. Trucking has always been Business man first truck driver second